Ford has announced new incentives and discounts for its MY2023 F-150 Lightning in an effort to boost sales of electric vehicles. These discounts can amount to significant savings depending on the selected trim level.
By leveraging the Treasury’s advanced EV tax rebate system, Ford is able to reduce the price by $7,500 for the Pro, XLT, and Lariat trim levels. However, the higher-end Platinum grade does not qualify for this incentive. It’s important to highlight that the F-150 Lightning remains eligible for this rebate, unlike many other vehicles.
So, what does this mean for potential buyers? For instance, the Lightning Pro, which typically sells for $49,995, can now be purchased for $42,495 after applying the tax incentive. Similarly, the XLT Standard Range (SR) benefits from the same rebate, allowing buyers to acquire one for $47,495. However, there’s an option to upgrade to the XLT Extended Range (ER) by paying a bit more.
Buyers opting for the XLT ER can still benefit from the tax rebate, and Ford is sweetening the deal further with an additional $7,500 Retail Bonus Cash incentive, resulting in a total discount of $15,000. This brings the price down to $54,995, which is equivalent to the price of the XLT Standard Range before any discounts. This model boasts an extended range of 320 miles on a single charge, thanks to its larger battery capacity, compared to 230 miles for the SR model.
Moving up the range, the Lariat trim also qualifies for the $7,500 tax credit regardless of the chosen battery pack. Additionally, Ford is offering a $5,000 retail incentive, reducing the price of the Lariat SR and Lariat ER to $57,495 and $64,995, respectively.
It’s important to note that the $5,000 retail incentive for the Lariat may require financing through Ford Credit. The range-topping Platinum, priced at $91,995, surpasses the $80,000 tax incentive limit for trucks and SUVs. To offset this, Ford has slashed $12,500 off the base MSRP, allowing buyers to purchase the Lightning Platinum for $79,495.
Despite Ford’s previous price increases for the Lightning, demand for electric vehicles has dwindled, prompting the company to reduce F-150 Lightning production. Notably, the Mustang Mach-E has also seen substantial discounts, with its range now starting at under $40,000.
